With the output of the Karstadt Crime According to analysts, is a FNB quick sell of the Metro-Kaufhof daughter be put off indefinitely. The victory of the investor in the bidding race for Berggruen Karstadt also marked the end of the dream of a German department store AG, Commerzbank analyst Juergen Elfers writes on Tuesday in a study. Metro CEO Eckhard Cordes for it will now more difficult, to silver for sale daughter Kaufhof at a good price.
ANALYSIS: Deal could be delayed by Karstadt Kaufhof sales Berggruen had on Monday night through in a true crime against the bidder investor Triton and the landlord Consortium High Street. The outcome had surprised him, writes Elfers. For him the most likely scenario was that High Street is the winner. Then, it concludes the analyst, would not, in connection with Metro and an investor of the two department store chains can be merged. A collaboration between Metro and Berggruen is likely, however improbable, is also WestLB analyst Thomas Rosenke.
Without the possibility of a department store AG could now but delay the Metro last forced separation of Kaufhof. Kaufhof potential buyers such as Blackstone and Permira should now assess with certainty their quotes again re-writes Elfers. The WestLB does not rule out that Metro is now up for sale could take longer than hoped. Since the Kaufhof business profitably, the Metro'm also not under time pressure.
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